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Vietnamese Enterprises will have to Import more Unprocessed Seafood to turn out products for Export

VASEP said at a meeting in HCMC on Aug 2nd 2016 that to fulfill export orders, Vietnam last year had to spend roughly US$1 billion importing unprocessed seafood from 84 markets, with shrimp accounting for 40% of the total.VASEP chairman Ngo Van Ich said importing more unprocessed seafood is essential to realize the export target of US$10 billion by 2020.The association said climate change has dealt a blow to aquaculture this year. The area under tiger and white-leg prawn farming has been hit hard, leading to a plunge in output. Therefore, many local processors have relied on shrimp from foreign sources.According to the Ministry of Agriculture and Rural Development, brackish water shrimp output in the Mekong Delta dipped in the first six months, leading prices to go up. Many processing plants ran at 50-60% capacity in the period due to material shortages.In the second half, shrimp and pangasius output is projected to slide due to unfavorable weather conditions.